A mortgage sheet is a tool (usually a computer program) to calculate your mortgage payment with ease. It also allows you to see how much you can afford on your mortgage. A workbook program will usually have two pre-filled and fully automated spreadsheets to let you compare up to 4 loans after x amount of years. The other sheet is to help you compare a fixed and variable rate mortgage.
It is important to always read over your mortgage sheets to make sure you have factually correct data. It is also a good idea to have a lawyer look at your mortgage contract. Never sign a document you do not understand or that you disagree with.
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